Legal & General Group Plc Has $52.70 Million Stock Position in GFL Environmental Inc. $GFL

Legal & General Group Plc increased its stake in shares of GFL Environmental Inc. (NYSE:GFL) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,225,212 shares of the company’s stock after buying an additional 131,332 shares during the period. Legal & General Group Plc’s holdings in GFL Environmental were worth $52,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares in the last quarter. Advisory Services Network LLC lifted its position in GFL Environmental by 4.1% during the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock worth $310,000 after buying an additional 256 shares in the last quarter. Jones Financial Companies Lllp lifted its position in GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after buying an additional 289 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in GFL Environmental by 6.8% during the 2nd quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock worth $262,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $33.58 on Friday. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 104.95, a P/E/G ratio of 2.66 and a beta of 0.78. The firm’s 50 day simple moving average is $39.19 and its 200 day simple moving average is $42.08. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. GFL Environmental Inc. has a fifty-two week low of $33.52 and a fifty-two week high of $51.51.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. GFL Environmental’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. As a group, sell-side analysts forecast that GFL Environmental Inc. will post 0.54 earnings per share for the current year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 13th were paid a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is currently 18.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Citigroup cut their target price on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings downgraded shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Barclays upped their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.